GSK Investors Clear Spinoff of Haleon in Key Step to Split

GSK Plc’s shareholders approved the UK drugmaker’s plan to spin off its consumer-health unit this month, paving the way for the largest listing on the London Stock Exchange in the last decade.

Nearly 100% of the votes cast were in favor of a demerger of its newly-named Haleon consumer division, the company said in a statement Wednesday.

The pharma and vaccines giant is preparing to split with Haleon, the maker of Panadol painkillers and Sensodyne toothpaste, on July 18 in a shakeup intended to strengthen the prospects of both companies. GSK, which has faced pressure from activist investor ...